Avita Medical Inc. (NASDAQ:RCEL) Stock Has Consensus Price Target of $11.40 According to Analysts

Avita Medical Inc. (NASDAQ:RCEL) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $11.40.

A number of research firms have commented on RCEL. Wall Street Zen upgraded Avita Medical from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. TD Cowen raised their price objective on Avita Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. BTIG Research lifted their price objective on Avita Medical from $7.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a report on Monday, September 21st. Finally, Lake Street Capital upped their target price on Avita Medical from $8.00 to $12.00 and gave the company a “buy” rating in a report on Friday, August 28th.

Avita Medical Stock Down 0.9%

Shares of Avita Medical stock opened at $13.21 on Thursday. Avita Medical has a twelve month low of $3.22 and a twelve month high of $13.71. The stock has a market cap of $406.60 million, a price-to-earnings ratio of -9.17 and a beta of 1.99. The company’s fifty day moving average is $10.12 and its 200 day moving average is $6.38.

Avita Medical (NASDAQ:RCEL) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. The company had revenue of $21.70 million during the quarter, compared to analyst estimates of $20.25 million. As a group, equities analysts anticipate that Avita Medical will post -0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RCEL. Harpswell Capital Advisors LLC bought a new stake in shares of Avita Medical in the 3rd quarter valued at $150,000. NewEdge Advisors LLC raised its stake in Avita Medical by 71.4% during the second quarter. NewEdge Advisors LLC now owns 148,931 shares of the company’s stock worth $615,000 after buying an additional 62,046 shares during the last quarter. Squarepoint Ops LLC bought a new position in Avita Medical during the second quarter worth $95,000. Bank of America Corp DE acquired a new position in Avita Medical in the second quarter valued at $213,000. Finally, Ieq Capital LLC acquired a new position in Avita Medical in the second quarter valued at $134,000. Institutional investors and hedge funds own 27.66% of the company’s stock.

Avita Medical Company Profile

Avita Medical is a regenerative medicine company focused on developing and commercializing technologies that use a patient’s own cells to support skin repair and healing. The company’s platform is designed to create a suspension of regenerative cells from a small sample of healthy skin, which can then be applied to damaged areas.

Its primary product is the RECELL Autologous Cell Harvesting Device, a point-of-care system that prepares a patient’s skin cells for use in treating thermal burn wounds.